Trading Symbol: TSX-V: ZFR OTC-ZPHYF
Shares Outstanding: 66,107,910
HALIFAX, NS, Aug. 20, 2020 /CNW/ - Zephyr Minerals Ltd.
(TSXV:ZFR) (OTC:ZPHYF) ("Zephyr" or the
"Company") announces that further to the news release
of 8:50 AM ET, 20 August, 2020, the slower than anticipated
progress on its drill program at El Plomo , Dawson-Green Mountain
property, Colorado was due to rig
break downs and slow drilling due to broken ground conditions.
Loren Komperdo, President and
CEO, stated "This is the first deep drill hole in this area of the
Dawson-Green Mountain property and as such drilling conditions are
unpredictable. While the slow progress is unfortunate, we do not
foresee any issue with achieving our ultimate targeted drill hole
depth of between 457 m and
609 m (1,500 ft – 2,000 ft). The
drill hole is currently at a depth of 263
m (862 ft)."
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. continues to advance its 100% owned high
grade Dawson-Green Mountain property in Colorado, USA. After expanding it's land
package to 1,385 hectares (3,430 acres) the Company now controls a
12.2 km long Dawson-Green Mountain mineralized trend. The central
3.2 km long El Plomo section is the focus for potential Broken Hill
Type silver-lead-zinc mineralization and the east and west
sections, Dawson and Green Mountain respectively are being targeted
for gold. The Dawson section is currently host to a high grade
inferred gold resource. The Company believes the combined Dawson
and Green Mountain sections encompassing approximately 9 km of
mineralized trend provide excellent resource expansion
potential.
To be included in the Zephyr email database for Company updates
please contact info@zephyrminerals.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. The forward-looking statements contained in this
document are based on certain key expectations and assumptions made
by the Company, including, with respect to the use of funds from
the private placement, expectations and assumptions concerning
timing of receipt of required regulatory approvals and third party
consents and the satisfaction of other conditions to the completion
of the exploration work on the Dawson-Green Mountain Property. The
forward-looking statements contained in this document are made as
of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities
laws.
SOURCE Zephyr Minerals Ltd.
